ALMELO, Netherlands, Jan. 12, 2016 (GLOBE NEWSWIRE) -- Based on preliminary reports, TenCate expects to have generated 2015 full-year sales of approximately € 1,160 million (2014: € 1,042 million) and EBITDA (excluding exceptional items) of approximately € 97.5 million (2014: € 84.6 million). Organic growth* for the full year 2015 was approximately 5% (2014: 4%), according to preliminary reports, and 2015 year-end net debt was approximately € 193 million (2014: € 216 million).
In October 2015, TenCate indicated to expect full-year organic sales growth* of approximately 4%, similar to 2014, and EBITDA (excluding exceptional items) of approximately € 95 million.
Regular year-end closing procedures have not yet taken place and may lead to changes. The indicative results mentioned above are based on preliminary internal reports and have not been audited.
Final 2015 results will be published on Friday 26 February 2016.
On 20 July 2015, Tennessee Acquisition B.V., a consortium led by Gilde Buy Out Partners, announced its intention of a public offer for all outstanding shares of Royal Ten Cate. The offer memorandum and the position statement were published on 21 October 2015. On 21 December 2015, the acceptance period was extended to 14 January 2016 at 17.40h.
* The 2015 organic sales growth mentioned above is the increase of sales adjusted for the divestment of TenCate Enbi and Xennia Technology as well as for currency effects.
Royal Ten Cate
Almelo, the Netherlands, Tuesday 12 January 2016
For further information:
Gert Steens, investor relations
Tel: + 31 546 544 977
Mob: +31 6 2159 7411
Royal Ten Cate (TenCate) is a multinational company that combines textile technology with chemical processes and material technology in the development and production of functional materials with distinctive characteristics. TenCate products are developed, manufactured and sold throughout the world.
Systems and materials from TenCate come under four areas of application: safety and protection; space and aerospace; infrastructure and the environment; sport and recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. TenCate is listed on Euronext (AMX).
Press release as PDF http://hugin.info/130798/R/1978213/724436.pdf
Source: Koninklijke Ten Cate NV